File Chapter 7 Bankruptcy??

Mar 13th, 2014 | By | Category: Debt

If you understand the process of how to file Chapter 7 bankruptcy, one realize that it isn’t such a complicated process. However, though it can only be too complicated, it is of paramount important to follow all the procedures and requirements up to the tee in the exact time frame as requested. If you comply with all these requirements, the process of filing Chapter 7 bankruptcy won’t be too time consuming and he’ll be over with out any more hardship.

Considering that uncertainty is a portion of filing for bankruptcy, one of the most frequent questions asked is how often can a person file for bankruptcy? When it comes to filing under chapter 7, you’re eligible to do it six years after the date of your first attempt. In the case of bankruptcy under Chapter 13, you can handle it at any point. Bankruptcy is all about trying to emerge from being a debtor. To do this however, a certain amount of fees are required. Chapter 7 works out to around $200 and Chapter 13 around $185. Joint petitions aren’t charged any higher.

The next worry for most people is whether they’ll lose some of their assets or material possessions because of filing for bankruptcy. This doesn’t happen unless your property was included as an element of debt recovery. The nuances of this vary between Chapters 7 and 13.

…And Even More File Chapter 7 Bankruptcy Things

Apart from the petition meeting, with respect to revised bankruptcy laws, presence of a debtor financial management educational course are mandatory as well. These courses are held by credit counseling agencies.

The relieve from your crushing debt will be soon outdated, on completion and conforming of the above requirements.

FAQ’s: chapter 7 bankruptcy?
Do you have to hire an attorney to file Chapter 7 bankruptcy? If not, how can I do about doing it?

  • You are entitled to file bankruptcy without an attorney if you want (and any bankruptcy attorney you consult is required to inform you of your right to file bankruptcy without an attorney). That said – just because you have a right to do it, doesn't mean its a good idea. I have the right to perform brain surgery on myself too, but that doesn't mean its a good idea. Particularly since the bankruptcy reform act of 2005 went into effect, there are many, many picky little details and technicalities, bizarre legal points, etc., which all must be taken care of with no errors, or you risk (at very least) having your bankruptcy dismissed, or worse – you risk losing FAR more in bankruptcy than you need to. A word to the wise: I have prepared many hundreds – maybe over a thousand – of bankruptcy cases for the attorneys of the bankruptcy law firm for which I used to work. I would say that I qualify as an "expert" bankruptcy case preparer. Even so — or perhaps BECAUSE of that — if I needed to file bankruptcy myself, I wouldn't dream of filing my own case without an attorney. I saw WAY too many things that could go wrong in an instant — I saw WAY too many debtors who'd tried to file their own cases who came begging for help from an attorney at the 11th hour (which, by the way, cost them FAR more than if they would have hired an attorney to file their case in the first place). I saw people who'd filed their own bankruptcy who lost homes and cars that they would NOT HAVE NEEDED TO LOSE … just because they did not know how to properly exempt those things from being taken by the bankruptcy trustee and liquidated to pay creditors. Please — you don't HAVE to hire an attorney to file bankruptcy – but please do. Bankruptcy attorneys are extremely familiar with the issue that people who consult them about filing bankruptcy don't have any money to pay an attorney. No – you won't get the attorney's services for free … but one of the issues that your bankruptcy attorney should try to help you address is the question of how to pay for the attorney's services. Some offer payment plans. Most bankruptcy attorneys offer one free appointment to discuss your particular situation. Please take advantage of that and make an in-person appointment with a local bankruptcy attorney. Don't try to do this yourself – even if you (technically) have the "right" to do so.

  • do not file for bankruptcy it will hurt you in the long run. sell your stuff and get a job or 2

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